STATEN ISLAND, N.Y. -- Broadway Stages -- a premier TV, film and music video production company with 30 years in the business and ties to major studios -- will purchase the former Arthur Kill Correctional Facility, Charleston, for $7 million, provide an additional $20 million in private investments within two years and generate 1,500 jobs, many of them union positions, the Cuomo administration announced Tuesday.

"Welcome to Hollywood East," said state Sen. Andrew Lanza (R-Staten Island) who helped broker the deal after the prison was shuttered two years ago in a statewide cost-cutting move of under-utilized facilities. "I'll take a film studio over a prison any day."

Broadway Stages will build five sound stages on the site with an opening day possibily as soon as summer -- depending on the city Department of Buildings permitting process -- company president Tony Argento told the Advance after Empire State Development Commissioner Ken Adams made the announcement in the Old Bermuda Inn, Rossville.

Argento, who has 27 studios in Brooklyn and Queens, said Staten Island appealed to him because the 69-acre site represented "the only place with a large tract of land" in the city.

"We are turning a place of incarceration into a jobs incubator," said Argento.

Asked what the entity here would be know as, Argento told the Advance, "Broadway Stages on Staten Island."

Broadway Stages provides facilities and services to HBO, CBS, Warner Bros. and Universal Studios, including hit shows such as "The Good Wife" and "Rescue Me," movies like "Pride and Glory" and the music videos of Jay-Z and Kayne West.

Borough President James Oddo called the move "transformative" for a borough previously known as home to the world's largest garbage dump.

"We're creating jobs on Staten Island and we're also creating something real cool for the people of Staten Island," said Assemblyman Michael Cusick (D-Mid-Island) who, along with Lanza and former Borough President James Molinaro, who was present, were credited with bringing the project to fruition.

"It's been a long time coming," said Lanza, pointing to his pink shirt and donning a cowboy hat before quipping, "It's never too old to be discovered."

"This is a great opportunity," added Lanza, whose district encompasses the area. "We have the skilled labor, we have the space, geographically it's perfect and there are gorgeous vistas."

Asked about Staten Island hires, John Ford, president of Local 52 of the Motion Picture Studio Mechanics, told the Advance, "We are going to do our best to make sure these jobs are made available to them."

Additionally, food service workers will be among the hires, Adams said during his remarks.

Assemblyman Joe Borelli (R-South Shore), who represents the district, said Broadway Stages would be a good fit, saying his "litmus test" for the site opted against other possible owners, including retail chains that would generate heavy car and truck traffic in the area.

Gov. Andrew Cuomo had been expected to attend the announcement, Lanza and Adams said during their remarks, but was unable to.